Technavio, a tech-focused research firm, has published a new report on the global LBS platform market, which is expected to grow at a CAGR of more than 22% from 2015-2019.
“The increasing worldwide use of location-based service platforms for various applications such as friend finder, maps, and check-ins is driving the growth of the market”
The latest report by Technavio indicates that LBS platforms are gaining popularity worldwide, and are being widely adopted by individual consumers. In addition, LBS applications such as location-based advertising, location-based search, location-based tracking and navigation, and location-based analytics have been deployed by enterprises across all the industry verticals.
“The increasing worldwide use of location-based service platforms for various applications such as friend finder, maps, and check-ins is driving the growth of the market,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also delves into the LBS platform, which includes both software and hardware network infrastructure that are collectively used to calculate the position of mobiles.
“It has been estimated that almost 72% of all emergency calls are made using mobile phones. However, tracing the accurate location of the caller has become a challenge. LBS platforms help track where a call is coming from, by providing real-time information on the location of the caller in a short time span,” adds Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.